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July 14, 2022

Contract activities in downstream segment in North America down 32% in Q2 2022

By Carmen

The downstream segment contracts in North America registered a decrease of 32% with 13 contracts in Q2 2022, when compared with the previous quarter’s total of 19 contracts, according to GlobalData’s oil and gas contracts database.

A total of 13 contracts were registered in the downstream segment of North America during the quarter, when compared with the last four-quarter moving average of 22 contracts.


In terms of the number of contracts in North America, the upstream segment contributed the most with 285 contracts in Q2 2022, followed by midstream and downstream segments with 53 and 13 contracts, respectively.


Contract award activity in North America’s downstream segment during Q2 2022

Looking at the total oil and gas contracts by country in the downstream segment of North America, the US led the activity in Q2 2022 with eight contracts and a 62% share. It saw a decrease of 50% over the previous quarter’s total of 16 contracts and a decrease of 53% when compared with the last four-quarter-average of 17 contracts in the US.

In second place was Canada with four contracts and a 31% share.

Based on five-quarter moving average of the contracts in the downstream segment of North America, the US took the top spot with 15 contracts, followed by Canada and Mexico with three and two contracts, respectively.

Contracts by scope of work in North America’s downstream segment during Q2 2022

During the quarter, the majority of downstream segment contracts awarded in the North America were in the procurement with eight contracts, followed by design & engineering and construction with seven and three contracts, respectively.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.

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